I have been meaning to post some interesting analysis of the elections etc. Meanwhile, let me post some links that make interesting reading:
- As Dylan Matthews has posted here and analyzed by Brad DeLong, the potential of the US GDP has been declining, at least in the CBOs view. There are some fundamental issues affecting the US besides the budget.
- Zachary Goldfarb has an excellent analysis here of Obama's economic philosophy of reducing inequality and what he's doing about it.
- This is perhaps the best explanation of the austerity crisis (incorrectly called the fiscal crisis). My favorite table is the one that outlines the economic impact as shown below. As you can see the economic impact of the taxes being debated is expected to be small relative to what is being left unsaid:
- Finally, Stuart Stevens, Romney's chief strategist, has written a very interesting piece on Romney's loss. He accepts no responsibility whatsoever for the loss. His most interesting comment is that Romney won every economic group except those who earned less than $50,000 income. This is factually correct as you can see here. Except, that's roughly 41% of the voters and Romney lost the group by 22 points. In fact, he's lucky. The US median income is ~$50K. So, what he just said is that Romney lost badly among a group that constitutes half the population. Hmmm ... just a math question here, how was he planning to win the election while losing among such a large chunk of the population by 22 points?
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